Global trade is in a twist 🚀 as US President Donald Trump's tariff moves shake up decades-old business relationships. Manufacturers are now looking beyond traditional US markets, seeking opportunities in Asia, Canada, and Europe.
A leading pharmaceutical capsule and tablet maker is scouting Asia for new partners, while a steel component manufacturer—long connected with US clients for 35 years—warns that higher prices may soon hit the market.
Canadian businesses, which once relied heavily on US exports, are also feeling the heat. One sports products firm is expanding its presence in Europe, and LabelPak Printing Inc. is considering a focused shift toward the Canadian market against fears of even steeper tariffs.
"We need to pivot," said Alan Urmeneta of PNP Pharmaceuticals, perfectly capturing the mood among many industry leaders. Advisors agree that in times of uncertainty, stability comes from diversifying global partnerships.
As manufacturers adapt to tariff turbulence, a new era of global trade is unfolding—full of fresh ideas and strategic shifts set to reshape industry dynamics.
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Facing tariffs and uncertainty, more firms look past US markets
cgtn.com
